The CBIC vide Notification No. 05/2023-Central Tax (Rate) dated 09.05.2023, has extended the last date for exercising of option by Goods Transport Agency (GTA) to pay GST under forward charge mechanism for the financial year 2023-2024, from 15th March, 2023 to 31st May, 2023.  

Also, the CBIC notifies that, in case the GTA who commences new business or crosses threshold for registration during any Financial Year, may exercise the option to itself pay GST on the services supplied by it during that Financial Year by making a declaration in Annexure V before the expiry of 45 days from the date of applying for GST registration or one month from the date of obtaining registration whichever is later. 

Similar Notifications has been issued under Integrated GST Act, 2017 vide Notification No. 05/2023-Integrated Tax(Rate) dated 09.05.2023 and Union Territory GST Act, 2017 vide Notification No. 05/2023-Union Territory Tax (Rate) dated 09.05.2023. 

To read the complete Notification Click here